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The régulation of the corporate welfare policy. Evidences from France

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  • Klebaner, Samuel

Abstract

The aim of this article is to demonstrate that the “Corporate Welfare” policies are embedded in a complex, dynamic and unstable mode of regulation. Based on qualitative and quantitative evidences from France since the 2008 financial crisis, we identify the five canonical institutional forms derived from the Régulation Theory that are coherent with industrial policies in favour of corporation without any counterparts. We consider that the deindustrialisation, the wage moderation, the fragmentation of national value chains is at the beginning of a race to the bottom of the public policy to compensate the profit loss. Behind the transfer of funds, we show that there is also a transfer of power to corporations, especially on the social welfare system. Finally, we will consider that this system is compatible as long as public debt creditors accepts to finance the difference between the quick transfers to corporations and the slow reduction of public expenditures, and second, that household have political and financial capacity to support this system.

Suggested Citation

  • Klebaner, Samuel, 2024. "The régulation of the corporate welfare policy. Evidences from France," MPRA Paper 121965, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:121965
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    References listed on IDEAS

    as
    1. Mehrdad Vahabi, 2023. "Destructive Coordination, Anfal and Islamic Political Capitalism," Springer Books, Springer, number 978-3-031-17674-6, June.
    2. Bruno Amable & Lilas Demmou & Ivan Ledezma, 2009. "The Lisbon strategy and structural reforms in Europe," Transfer: European Review of Labour and Research, , vol. 15(1), pages 33-52, February.
    3. Samuel Klebaner & Matthieu Montalban, 2020. "Cross-Fertilizations Between Institutional Economics and Economic Sociology: The Case of Régulation Theory and the Sociology of Fields," Review of Political Economy, Taylor & Francis Journals, vol. 32(2), pages 180-198, April.
    4. Mehrdad Vahabi & Philippe Batifoulier & Nicolas Silva, 2020. "A theory of predatory welfare state and citizen welfare: the French case," Public Choice, Springer, vol. 182(3), pages 243-271, March.
    5. Richard A. Posner, 1974. "Theories of Economic Regulation," Bell Journal of Economics, The RAND Corporation, vol. 5(2), pages 335-358, Autumn.
    6. Karl Aiginger, 2007. "Industrial Policy: A Dying Breed or A Re-emerging Phoenix," Journal of Industry, Competition and Trade, Springer, vol. 7(3), pages 297-323, December.
    7. Mehrdad Vahabi, 2023. "Conceptualizing Destructive Coordination," Springer Books, in: Destructive Coordination, Anfal and Islamic Political Capitalism, chapter 3, pages 73-103, Springer.
    8. Fligstein, Neil, 2001. "Social Skill and the Theory of Fields," Center for Culture, Organizations and Politics, Working Paper Series qt26m187b1, Center for Culture, Organizations and Politics of theInstitute for Research on Labor and Employment, UC Berkeley.
    9. repec:dau:papers:123456789/6926 is not listed on IDEAS
    10. Ken Warwick, 2013. "Beyond Industrial Policy: Emerging Issues and New Trends," OECD Science, Technology and Industry Policy Papers 2, OECD Publishing.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Régulation ; Corporate welfare ; France;
    All these keywords.

    JEL classification:

    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary; Modern Monetary Theory;
    • L53 - Industrial Organization - - Regulation and Industrial Policy - - - Enterprise Policy

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